Papua New Guinea’s proposed new resources law aims to shake up old ownership models

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A new organic law defining how Papua New Guinea manages resource projects may soon be tabled in Parliament. It appears the main aim will be to change ownership and control of future projects, but will it spook international investors?

In brief: Oil Search planning strategic review and other business stories

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Oil Search to undergo a strategic review, Newcrest remains positive about Wafi-Golpu and public consultation on internet pricing. The news you need to kickstart your week.

Business says enough is enough: it’s time to stop violence against women in Papua New Guinea

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Papua New Guinea’s business community is getting behind the fight to eradicate violence against women. Business Advantage PNG looks at just some of the initiatives being pursued following the recent widely-reported murder of a young mother in Port Moresby.

People moves: Oil Search

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Oil Search announces top-tier changes.

In brief: Oil Search announces structural changes and other business stories

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Oil Search shrinks its employee base, Coca-Cola Amatil PNG invests K155 million in infrastructure upgrades and bmobile and Telikom’s merger expected later this year. The news you need to kickstart your week.

Oil and gas prices recover: our monthly review of Papua New Guinea’s commodities and financial markets

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Oil and LNG prices have recovered to some extent and copper has also bounced back. Palm oil prices have strengthened but cocoa is weaker. Business Advantage PNG’s monthly overview of commodity and financial markets.

Amendments to Papua New Guinea’s Mining Act provide for State to take a more active role

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Amendments to the Mining Act 1992 have been passed in parliament, with Mining Minister Johnson Tuke explaining it is a step towards ‘taking back’ Papua New Guinea. Meanwhile, industry representatives have expressed some deep concerns.

In brief: Oil Search back trading on PNGX and other business stories

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Oil Search back trading on PNGX, new wholesale internet prices coming and ambitions plans for PNG’s cocoa industry. Your latest summary of the business news you need to know.

Oil Search shares suspended on Papua New Guinea’s stock exchange

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Oil Search, Papua New Guinea’s biggest company, has been suspended from trading on PNGX, the country’s stock exchange, amidst claims that it did not follow proper procedure in its recent capital raising – claims the company is refuting.

In brief: Barrick removes Porgera mine’s production from guidance and other business stories

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Porgera mine output is removed from Barrick’s full year guidance, Westpac announces new division for Westpac Pacific and Australia and New Zealand agree on a ‘trans-Tasman COVID-safe’ travel zone. The business news you need to kick-start your week.